Manufacturing businesses emerge from lockdown with support from Lloyds Bank
A Worcestershire-based specialist steel fabrication business remains open with the support of Lloyds Bank and hopes to realise its expansion plans post-Covid-19.
NHS supplier, All 4 One Engineering is continuing to process orders for the industrial roofing and cladding trades after working with the bank to secure a six-figure funding package via the government-backed Coronavirus Business Interruption Loan Scheme.As well as providing materials to NHS construction projects, the business is also manufacturing essential steel products for healthcare trusts across the UK. The funding will enable it to continue supporting the NHS while managing cashflow issues caused by the temporary closure of construction sites during the pandemic.
Prior to Covid-19, the £3m turnover firm had secured planning permission to double the size of its 22,000 sq ft Bromsgrove production facility and plans remain in place to expand the business when economic conditions improve.
Kim Williams, managing director of All 4 One Engineering, said: “We’ve been fortunate enough to remain open for business with a reduced team despite the impact of coronavirus on the construction industry. However, like all businesses, our suppliers and clients have been affected which has had implications for our cashflow.
“The rapid arrival of the funding has provided us with the short-term flexibility to weather the storm and continue to support projects for clients including the NHS.”
Ian Monk, relationship manager at Lloyds Bank, said: “We’re supporting businesses up and down the country as the current crisis continues to affect critical sectors, including manufacturing. We’ve worked with All 4 One Engineering for more than 15 years and it is clear that, prior to Covid-19, it was performing well. This funding will be critical in the short-term and hopefully leave them in a strong enough position to revisit their growth aims on the other side of the crisis.”